Advisors Capital Management LLC Buys Shares of 89,485 Stryker Corporation $SYK

Advisors Capital Management LLC bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 89,485 shares of the medical technology company's stock, valued at approximately $28,173,000.

Several other institutional investors also recently modified their holdings of the stock. Varma Mutual Pension Insurance Co boosted its stake in shares of Stryker by 10.5% in the 4th quarter. Varma Mutual Pension Insurance Co now owns 53,610 shares of the medical technology company's stock valued at $18,842,000 after purchasing an additional 5,100 shares during the last quarter. QRG Capital Management Inc. raised its stake in Stryker by 7.4% during the fourth quarter. QRG Capital Management Inc. now owns 60,548 shares of the medical technology company's stock worth $21,281,000 after buying an additional 4,186 shares during the last quarter. Swedbank AB raised its stake in Stryker by 6.6% during the fourth quarter. Swedbank AB now owns 129,027 shares of the medical technology company's stock worth $45,349,000 after buying an additional 7,934 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Stryker by 31.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 26,820 shares of the medical technology company's stock valued at $9,426,000 after buying an additional 6,367 shares during the period. Finally, Royal Bank of Canada boosted its position in Stryker by 6.5% during the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company's stock valued at $1,075,552,000 after acquiring an additional 199,863 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SYK shares. Citizens Jmp lowered their target price on Stryker from $440.00 to $400.00 and set a "market outperform" rating for the company in a report on Monday, August 3rd. Needham & Company LLC reduced their price objective on shares of Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on shares of Stryker in a research note on Friday, May 1st. Wells Fargo & Company dropped their target price on shares of Stryker from $456.00 to $418.00 and set an "overweight" rating on the stock in a research report on Friday, May 1st. Finally, Canaccord Genuity Group reduced their price target on shares of Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $386.28.

Stryker Price Performance

Shares of SYK opened at $327.97 on Friday. The business's fifty day moving average is $326.64 and its 200 day moving average is $332.66. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $396.86. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The stock has a market cap of $125.80 billion, a P/E ratio of 33.99, a P/E/G ratio of 2.17 and a beta of 0.76.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 EPS for the quarter, beating analysts' consensus estimates of $3.49 by $0.20. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business had revenue of $6.59 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the business posted $3.13 EPS. Stryker's quarterly revenue was up 9.4% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. Sell-side analysts anticipate that Stryker Corporation will post 15.02 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, September 30th. Stryker's dividend payout ratio is currently 36.48%.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Robert S. Fletcher sold 4,544 shares of the firm's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 665,370 shares of company stock valued at $216,238,501. 4.60% of the stock is owned by corporate insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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